The National Retail Federation (NRF) recently released its annual list of the Top 100 Retailers, compiled by Kantar. The 2026 Top 100 Retailers ranks the industry’s largest companies according to 2025 U.S. retail sales. As the largest retailers continue to expand outside of retail revenues, this list focuses only on retail-specific revenues and not overall organizational revenue.

“Despite significant economic challenges over the past year, this year’s Top 100 Retailers list highlights a resilient group of companies,” says NRF chief economist and executive director of research Mark Mathews. “They are adapting to meet changing consumer needs and leaning into new strategies and formats that set them apart.”

Walmart leads again as the top retailer with U.S. retail sales of $579.99 billion and 4.2% sales growth in 2025. Amazon follows for the No. 2 spot with U.S. retail sales of $293.85 billion, up 7.3% in 2025.

Among home improvement companies, The Home Depot took the No. 5 spot with $141.12 billion U.S. retail sales in 2025 and Lowe’s Companies claimed No. 9 ($83.96). Ace Hardware moved up to No. 19 on the list, replacing Dollar Tree with $27.55 billion in 2025 U.S. retail sales. The NRF stated smaller hardware and home improvement retailers, like Ace Hardware (No. 19) and True Value Co. (No. 67), are performing strongly, driven by sustained demand from consumers focused on home maintenance and smaller-scale projects.

“Companies are doing quite well,” Kantar senior vice president of Global Insights and Technology David Marcotte said. “We’re not seeing movement at the top of the rankings, but there is change outside of the top 20 as the mid-tier companies evolve and grow. And it’s much easier to do that in this environment than it was 20 years ago.”